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Tax Break Tracker Individual Entry

Each individual entry is a single program reported by a single jurisdiction in a given fiscal year. Because we want to track the level and quality of disclosure as well as the content, the values below -- with the exception of program names -- are entered exactly as they are reported. See our user guide for more explanations.

StateNew York
Effected JurisdictionNew York City
Jurisdiction type: Municipality
Fiscal year ending In2021
Program nameSports Arean Used by NHL and NBA
Program purpose: Sports and other mega events
Statutory authority: New York State Real Property Tax Law: Section 429
Abating jurisdiction(s): City of New York
Applicable taxesReal Property Tax
Method of abatement: Reduction of assessed value
Provisions for recapture: (no provisions for recapture)
Gross revenue loss: $43,900,000
Reimbursement / offset: $0
Net revenue loss: $43,900,000
Type of loss: Active
Additional notes on dislosure(none)